Sumitomo Mitsui Trust Group Inc. Raises Position in Camden Property Trust (NYSE:CPT)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Camden Property Trust (NYSE:CPT) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 297,519 shares of the real estate investment trust’s stock after acquiring an additional 6,550 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Camden Property Trust were worth $34,524,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. UMB Bank n.a. increased its position in shares of Camden Property Trust by 76.6% in the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 98 shares during the period. Neo Ivy Capital Management bought a new position in shares of Camden Property Trust during the third quarter valued at about $38,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Camden Property Trust by 117.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 382 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 206 shares during the last quarter. American Capital Advisory LLC raised its stake in shares of Camden Property Trust by 42.7% during the third quarter. American Capital Advisory LLC now owns 428 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 128 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new position in shares of Camden Property Trust during the third quarter valued at about $62,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Trading Up 0.5 %

NYSE:CPT opened at $119.97 on Wednesday. The company’s 50 day moving average price is $115.37 and its 200-day moving average price is $119.08. Camden Property Trust has a 52 week low of $90.50 and a 52 week high of $127.69. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.72. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 79.98, a PEG ratio of 4.27 and a beta of 0.94.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.32%. On average, equities research analysts forecast that Camden Property Trust will post 6.8 earnings per share for the current fiscal year.

Camden Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.05 per share. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.50%. Camden Property Trust’s dividend payout ratio is presently 274.67%.

Insider Activity

In related news, CFO Alexander J. Jessett sold 1,862 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $204,931.72. Following the transaction, the chief financial officer now owns 122,384 shares in the company, valued at $13,469,583.04. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Campo sold 7,324 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $838,598.00. Following the transaction, the chief executive officer now owns 300,135 shares in the company, valued at approximately $34,365,457.50. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,413 shares of company stock worth $2,895,718 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CPT shares. Stifel Nicolaus upped their price objective on shares of Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Mizuho lowered their price objective on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $129.00 to $128.00 in a research note on Tuesday, December 17th. Wells Fargo & Company decreased their price target on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, Evercore ISI increased their price target on shares of Camden Property Trust from $118.00 to $127.00 and gave the stock an “in-line” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $126.03.

Camden Property Trust Profile

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.